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By Our Reporter

Although Prime Minister Pushpa Kamal Dahal and Finance Minister Dr. Prakash Sharan Mahat have been arguing that the economy has made significant improvements, the latest report of the Auditor General’s Office shows otherwise.

The government expenditures in the first half of the current fiscal year 2023/24 exceeded the income.

Till mid-January, the nation suffered a budget deficit worth Rs. 48.46 billion, according to the data from the Office of the Auditor General.

It said the revenue collections met 35.19 per cent of the annual target, while expenditures have reached 32.35 per cent in six months.

In the current fiscal year, the government estimated to collect revenue amounting to Rs. 1472 billion while the collections till mid-January are calculated at Rs. 518 billion and this makes 35.19 per cent of the target.

Towards the tax revenue, the collections amounted to Rs. 443.05 billion, making 33.98 per cent of the target. Similarly, towards the non-taxation collection, the revenue is 45.23 per cent of the target or Rs. 52.094 billion.

A target was set to take foreign grants totalling Rs. 49 billion and 943 million in the current fiscal year and 5 per cent of this amount or Rs. 2 billion and 758 million foreign grant has been received so far.

Out of the total budget of Rs. 1 trillion 751 billion 312 million and 100 thousand annual budget for the current fiscal year, Rs. 566 billion 621 million and 300 thousand has been spent until January 14. This amount of expenditure is equivalent to 32.35 per cent of the annual goal.

Out of the total budget of Rs. 1 trillion 141 billion 784 million and 100 thousand allocated under the current heading, 38.31 per cent or Rs. 437 billion 381 million and 200 thousand has been spent so far.

Similarly, of the Rs. 302 billion 74 million and 400 thousand allocated towards the capital expenditure heading, 16.3 per cent or Rs. 49 billion 235 million and 800 thousand has been spent. Out of the Rs. 307 billion 453 million and 600 thousand budget allocated towards the financial management heading, 26.2 per cent or Rs. 80 billion 4 million and 300 thousand has been spent.